**Charity registration number 1058595 (England and Wales)**
## **COMBINED MILITARY SERVICES MUSEUM**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **COMBINED MILITARY SERVICES MUSEUM**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
## **Charity number**
## **Registered office**
## **Independent examiner**
Mr R Wooldridge Mr M Anstey Mr D L Nower Mr G Weight Mr M Dedman
1058595
Station Road Maldon Essex CM9 4LQ
Azets Audit Services 3Mc Middlemarch Business Park Siskin Drive Coventry CV3 4FJ
(Appointed 31 March 2025) (Appointed 31 March 2025) (Appointed 30 July 2025) (Appointed 31 July 2025)
## **COMBINED MILITARY SERVICES MUSEUM**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 17|
## **COMBINED MILITARY SERVICES MUSEUM**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
The trustees present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The main objects of the charity are to display its collection for the education of the general public, and to preserve its collection for the benefit of future generations.
The charity will co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objectives and to exchange information and advice with them.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## _Volunteers_
The trustees are very grateful for all the efforts of the volunteers throughout the year.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
During the current financial period the Museum has seen a rise in costs - especially for utilities, The Trustees have reviewed suppliers and have sought to reduce costs for utilities, as well as reducing waste within the premises to minimise costs.
The museum has also relied heavily on volunteers to help man the museum, this again has proved essential in minimise costs to keep the museum finically viable.
The museum has also been successful in receiving funds for the loan of artefacts for international exhibitions, and royalties for the use of its photographs to assist with cashflow.
Visitor numbers have been slowly improving during this financial period and are now back to similar levels to that achieved prior to the Covid-19 pandemic.
Overall the trustees are very satisfied with the museum's activities and the charity's performance during the financial year.
## **Financial review**
The trustees believe that the year end position and financial performance during the year are satisfactory. At the balance sheet date total funds were £2,176,437 (2024 - £2,172,069). Of these funds £232,108 (2024 - £234,108) relates to restricted funds.
A surplus of £4,368 (2024 - £10,235) has been returned for the year. Whilst costs have remained largely consistent with the previous year, there has been a reduction in income primarily due to one off income amounts received in the previous years.
The trust has received £32,796 in financial donations during the year that has been valuable in assisting with operating costs, and enabled the trust to secure a number to significant artefacts to its collection.
- 1 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## _Reserves policy_
Most of the funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The only exception to this is the lottery grant which is primarily to fund the extension of the museum and has been treated accordingly.
The levels of reserves have so far been determined by external factors as the charity becomes established, but it is expected that reserves will be determined by the need to keep a minimum level of operating working capital, especially with regard to unrestricted funds. Restricted funds are not expected to be liquid as they are likely to be tied up in the freehold building.
The trustees have examined the charity's requirements for reserves and have established a policy that unrestricted reserves should be sufficient to cover at least six months of the charity's expenditure.
## _Principal funding sources_
The Museum's main sources of income are derived from admissions and associated sales at the Musuem, supplemented by grant funding and donations.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The charity is constituted by Deed of Trust dated 29th August 1996 and its registered number is 1058595.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr R Wooldridge
Mr J M Hulott (Resigned 1 March 2025) Dr V E Ashworth te Velde (Resigned 31 March 2025) Mrs A A J Percival-Borley (Resigned 31 March 2025) Mr M Anstey (Appointed 31 March 2025) Mr D L Nower (Appointed 31 March 2025) Mr G Weight (Appointed 30 July 2025) Mr M Dedman (Appointed 31 July 2025)
## _Recruitment and appointment of trustees_
The existing trustees make appointments of new trustees when deemed necessary in order to perform the trust's objectives effectively. Potential trustees are selected on the basis of their relevant background and experience and are expected to actively support and further the charity's work.
## _Organisational structure_
The trustees meet on a regular basis in order to discuss relevant matters relating to the charity. Important decisions are reached at these meetings and communicated to the staff and other interested parties.
## **Public benefit**
The object of the Combined Military Services Museum is to display its collection for the education of the general public. The trustees are very pleased with the work having been carried out this year in line with the charity's objects.
The trustees have read the guidance issued by the Charity Commission and consider that they are in full compliance.
- 2 -
COMBINED MILITARY SERVICES MUSEUM
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The truste6s' report was approved by the Board OYTrusl••s.
Mr R WooldrKlge
Tru8tee
Data..
COMBINED MIUTARY SERVICES MUSEUM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COMBINED MIUTARY SERVICES MUSEU
I report to th& InJst•¢s on my 8xamThlion of staI•M of Cld Sery1 Mu88um {th•
¢harTty) for thè year ended 31 August 2025.
Rè•pon•Sbilotl•• and b••l• ol v•port
A8 the trustees of the tharity you are respon8lble fty thè of the find81 statements a(rdIn¢% with
the requhmenls ol the Ch8rftiesA(* 2011.
I r•p)rt In r•$ped of my oxaminaliryt ol Ihg Ilnartial statem8nts out KIer S8diC 145 of the
Charities Ad 2011. In ¢ing oul my examination I have folknwed the Dir&*ons grn by th• Charity Commi8sion
under 88¢1iM 145151{b) of Ihe 2011.
Ind•p•nd•nt •xafflln•rf• *tskn•nt
Your attenllon is drawn lo the fact that thg ¢h¥thy has prep4red Iha fin[al st¥tements h accordance wlh the
relevant v•rsion of the Stslement ol ReL))mmend¢d Prath"¢e appllcafAe lo c*•rrtie$ preparing thoir firigncial
statefflenl8 In a¢o)rdanc& with tho FThndal Reporung Standard appkable in tr* UK Republ of Irond IFRS
1021 In prthnce lo t A¢oJuntin9 and ReWirKJ by Charftie8.' Stalemènt of Recorrmended Pr•Xk• i8sugd on 1
Aprtl 2005 which is rnfwT•d lo In the extant regulations but ha$ nfxw been vthhdrawn. l uftdetsnd th8t this has
been done in ord6r lor the fknan(yal stalemenls to pro¥ld& a foK in ac¢cKdarK• UK Gen&r•rty
Ao¢opf•d A¢counling Pr&tM¥.
I havo c4)mpletgd my •xanwn•lkn. I cfflTh th•t no maffw8 c4)m• to my 4ttontM In ttJnn•(Ilc4) wrth Ihe
0Xan81iOn giwng me caus8 to b•lieb* that m any m•terial rospad."
a¢(UnIng ro¢uth were rK)t kopt in Ip•d of th• tharty as r•¢ywod by 8èL*M 130 of Iho CharitKg8 Act 2011.
thè finandal $tst•menls do ld wilh tho80 rw)rds: or
the finan(aal 8tal•mwts do not compty th the appluble raqulrements concerNng the forni and content of
finanthal 8tsl•m8nts 8et out In th• Charlll•s (Accounts and Reports) ReguLgtion$ 2008 ¢th•r thgn any
r•qulremanl that Ihe finarKid $tat•ments gl¥• a In f8rr bknt, whKh Is nol a mattèr consldèred as part of
an Independent ¢xamfrnatJon.
I have no ¢on¢ems and have Come ac¥oss no othor m¥tters In c¢nnodlon with th• examination lo vthi¢h attenucrfj
bo drawn in tti$ report in ord•r to a wopei Und9nd9 oftho fin4nc4ai st4tgments lo be reached.
RoWAnd•rson FCA
Az•ts Audlt S•rvk
3Mc Middlemarch BuBingss Park
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## **COMBINED MILITARY SERVICES MUSEUM**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
32,796
-
Charitable activities
**4**
40,388
-
Other trading activities
**5**
7,797
-
Investments
**6**
-
-
**Total income**
80,981
-
**Expenditure on:**
Raising funds
**7**
2,754
-
Charitable activities
**8**
71,859
2,000
**Total expenditure**
74,613
2,000
**Net income/(expenditure) and**
**movement in funds**
6,368
(2,000)
**Reconciliation of funds:**
Fund balances at 1 September
2024
1,937,961
234,108
**Fund balances at 31 August**
**2025**
1,944,329
232,108|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
32,796
32,068
-
40,388
47,275
-
7,797
11,104
-
-
10
-
80,981
90,457
-
2,754
6,063
-
73,859
72,096
2,063
76,613
78,159
2,063
4,368
12,298
(2,063)
2,172,069
1,925,663
236,171
2,176,437
1,937,961
234,108|**Total**
**2024**
**£**
32,068
47,275
11,104
10|
|---|---|---|
|||90,457|
|||6,063
74,159|
|||80,222|
|||10,235
2,161,834|
|||2,172,069|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
COMBINED MILITARY SERVICES MUSEUM
BALANCE SHEET
ASAT 31 AUGUST 2025
2025
2024
Flxed o$Jgt•
Tangible assets
Henlage a55ets
14
1S
633.923
1.535.588
637 000
1.527 695
2.169,511
2.164,895
Current a••ets
Stocks
Debtors
Cash at bank and in hand
16
17
1.969
7.822
3.304
1.812
4.998
4,887
12.895
11,697
Cr•d6tor•: amounts falllng due withln
on• y•4r
18
15.9891
14,5231
N•t curr•nt *•Mts
8.926
7,174
Totsl *•s•t• l••• ¢urr•nt114bllltl
2.176,437
2,172,089
Th• lunds of th• ¢h•rlty
Reslricted Income fvnd3
Unr¢slri¢led Ivnd$
232.108
1.944.329
234,108
1.937,961
21
2, 176.437
2.172.069
The flnoncial statemtrnls w*r• ¥pproved by th• trust••$ on
Mr R Wooldridye
Tru8t••
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
## **Charity information**
Combined Military Services Museum is a charitable trust and registered at the Charity Commission number 1058595.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
**(Continued)**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
## **1.5 Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings No depreciation is provided Plant and machinery 10% on reducing balance Fixtures and fittings At variable rates on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
No depreciation is provided on the charity's freehold property as the trustees believe that its economic value is substantially higher than its book value and any depreciation would be immaterial. The property will be subject to regular impairment reviews.
## **1.7 Heritage assets**
Heritage assets are initially shown at the cost of the acquired asset. A heritage asset that is recognised initially at its cost may be subsequently carried at a valuation where a charity adopts a policy of carrying its heritage assets (or group of heritage assets) at valuation. Heritage assets are held and maintained principally for their contribution to knowledge and culture and consequently are not considered to have a finite economic life. Consequently no depreciation is charged on heritage assets.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
- 8 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.14 Heritage Lottery Fund**
The National Lottery fund contributed to the cost of buildings and display cases and the balance on the restricted fund represents the value of those assets acquired less amortisation.
- 9 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2025**|2024|
||**£**|£|
|Donations and gifts|32,596|32,068|
|Grants received|200|-|
||32,796|32,068|
|**Grants receivable for core activities**|||
|Other|200|-|
||200|-|
## **4 Charitable activities**
|Admissions income
Other income|**2025**
**£**
40,264
124
40,388|**2024**
**£**
41,181
6,094|
|---|---|---|
|||47,275|
- 10 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**5**|**Income from other trading activities**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Shop income|7,797|11,104|
|**6**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|-|10|
|**7**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Fundraising and publicity**|||
||Other fundraising costs|2,754|6,063|
- 11 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **8 Expenditure on charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**expenditure**|**expenditure**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Staff costs|44,937|41,397|
||Depreciation and impairment|3,077|3,419|
||Rates & water|305|351|
||Insurance|3,480|3,959|
||Light & heat|9,340|10,013|
||Repairs & maintenance|3,030|3,694|
||Printing, postage & stationery|277|503|
||Telephone & fax|2,198|1,798|
||Advertising|1,567|2,100|
||Travel costs|-|408|
||Sundry expenses|1,973|3,052|
||Bank charges|912|998|
|||71,096|71,692|
||**Share of support and governance costs (see note 9)**|||
||Governance|2,763|2,467|
|||73,859|74,159|
||**Analysis by fund**|||
||Unrestricted funds|71,859|72,096|
||Restricted funds|2,000|2,063|
|||73,859|74,159|
|**9**|**Support costs allocated to activities**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Governance costs|2,763|2,467|
||**Analysed between:**|||
||Charitable expenditure|2,763|2,467|
|**10**|**Net movement in funds**|**2025**|**2024**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|1,680|1,600|
||Depreciation of owned tangible fixed assets|3,077|3,419|
- 12 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **11 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **12 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Museum operations|3|3|
|**Employment costs**|**2025**|**2024**|
||**£**|**£**|
|Wages and salaries|43,992|40,611|
|Other pension costs|945|786|
||44,937|41,397|
There were no employees whose annual remuneration was more than £60,000.
## **13 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 13 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **14 Tangible fixed assets**
|**Cost**
At 1 September 2024
At 31 August 2025
**Depreciation and impairment**
At 1 September 2024
Depreciation charged in the year
At 31 August 2025
**Carrying amount**
At 31 August 2025
At 31 August 2024|**Land and**
**buildings**
**£**
606,227
606,227
-
-
-
606,227
606,227|**Plant and**
**machinery**
**Fixtures and**
**fittings**
**£**
**£**
47,250
167,540
47,250
167,540
41,601
142,416
565
2,512
42,166
144,928
5,084
22,612
5,649
25,124|**Total**
**£**
821,017|
|---|---|---|---|
||||821,017|
||||184,017
3,077|
||||187,094|
||||633,923|
||||637,000|
No depreciation is charged on the freehold property because in the opinion of the trustees any such charge would be immaterial.
## **15 Heritage assets**
|At 1 September 2024
Purchases
**At 31 August 2025**|**£**
1,527,895
7,693|
|---|---|
||1,535,588|
Heritage assets represent the charity's various display collection and all assets are shown in the financial statements at their cost price.
Over the last five years heritage asset additions totalled £74,240 and disposal proceeds £4,200. None of the heritage assets have been impaired.
## **16 Stocks**
|**Stocks**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Finished goods and goods for resale|1,969|1,812|
The amount of stock recognsied as an expense during the period was £2,754 (2024 - £6,063).
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## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**17**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**18**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
**19**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2025**
**£**
2,719
4,903
7,622
**2025**
**£**
516
2,936
2,517
5,969
**2025**
**£**
945|**2024**
**£**
801
4,197|
|---|---|---|
|||4,998|
|||**2024**
**£**
-
2,149
2,374|
|||4,523|
|||**2024**
**£**
786|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
## **20 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1**|**Resources**|**At 31 August**|
|---|---|---|---|
||**September**|**expended**|**2025**|
||**2024**|||
||**£**|**£**|**£**|
|Heritage Lottery Fund|234,108|(2,000)|232,108|
|**Previous year:**|**At 1**|**Resources**|**At 31 August**|
||**September**|**expended**|**2024**|
||**2023**|||
||**£**|**£**|**£**|
|Heritage Lottery Fund|236,171|(2,063)|234,108|
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## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **20 Restricted funds**
## **(Continued)**
The Heritage Lottery Fund represents lottery funding received relating to the purchase of freehold property and various fixtures and fittings. At the balance sheet date the balance on the fund is represented by the net book value of these assets.
## **21 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1**|**Incoming**|**Resources**|**At 31 August**|
|---|---|---|---|---|
||**September**|**resources**|**expended**|**2025**|
||**2024**||||
||**£**|**£**|**£**|**£**|
|General funds|1,937,961|80,981|(74,613)|1,944,329|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**At 31 August**|
||**September**|**resources**|**expended**|**2024**|
||**2023**||||
||**£**|**£**|**£**|**£**|
|General funds|1,925,663|90,457|(78,159)|1,937,961|
|**Analysis of net assets between funds**|||||
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**||
|||**2025**|**2025**|**2025**|
|||**£**|**£**|**£**|
|**At 31 August 2025:**|||||
|Tangible assets||401,815|232,108|633,923|
|Heritage assets||1,535,588|-|1,535,588|
|Current assets/(liabilities)||6,926|-|6,926|
|||1,944,329|232,108|2,176,437|
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**||
|||**2024**|**2024**|**2024**|
|||**£**|**£**|**£**|
|**At 31 August 2024:**|||||
|Tangible assets||402,892|234,108|637,000|
|Heritage assets||1,527,895|-|1,527,895|
|Current assets/(liabilities)||7,174|-|7,174|
|||1,937,961|234,108|2,172,069|
## **22 Analysis of net assets between funds**
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## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **23 Related party transactions**
## **Transactions with related parties**
During the year, the charity received donations of £19,000 (2024 - £17,500) from one of its trustees, Mr R Wooldridge. There were no conditions attached to these donations.
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